Household credit growth has been slowing around most of the world including the United States, Canada and Australia but remains robust in the United Kingdom despite economic concerns around Brexit. Household debt excluding student loans has hit 80% of GDP and including student loans has hit 90% of GDP.

Consumer Credit (loans and credit cards)

Consumer Credit (loans and credit cards) is growing at an annualized 7%. That is down from the 11% growth rate as recently as 2016 but way above the 5-6% in 2008 before the financial crisis hit.

Residential Mortgages growth stands at an annualized 3.2%. Most of UK wealth is in real estate or property and despite economic concerns surrounding Brexit property sales haven’t really slowed. Mortgage growth had fallen to under 1% between 2010 and 2012 but was as high as 11% in 2007.